Paper presented at the 14th Annual Conference of the European Association of Environmental and Resource Economists, Bremen, Germany 23 - 26 June 2005

en

dc.description.abstract

This paper analyzes the consequences of unilateral climate policy in the presence of directed technical change. We develop a dynamic two-country model in which two otherwise identical countries differ in their environmental policy: one of the countries enforces a (binding) cap on emissions while the other does not. Focusing on carbon leakage, we show how allowing for directed technical change significantly modifies the results obtained otherwise

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